The VA Home Loan - A big thank you for your service!
Buying a home with a VA Loan requires no down payment.
HOW COOL IS THAT?
VA Home Mortgage Loan Advantages vs Other Mortgage Loan Options
- VA home loans do not require a down payment, unless the purchase price is more than the appraised value or in excess of current loan limits.
- Although there is no down payment required - There are still closing costs, but the seller usually pays ALL of the veteran's closing costs (and with a $0 down payment, the veteran can literally purchase a home for nothing).
- VA home loans have limitations on which closing costs may be assessed to the veteran.
- VA home loans have no prepaid without penalty.
- Maximum (zero down) VA loan has increased to match conforming loans!
- VA home loans may have forbearance extended to worthy VA homeowners experiencing temporary financial difficulty
- VA performs personal loan servicing and offers financial counseling to help veterans avoid losing their homes during temporary financial difficulties
- VA interest rates are competitive with conventional loan interest rates.
- VA home loans do not require mortgage insurance - this is a HUGE savings.
We are sensitive to the needs of our American Veterans. But before you get a VA loan, you will need a Certificate of Eligibility, and your DD-214. If you do not have one, or cannot find it, you must contact the VA to get one.
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